The Trump administration is stepping up pressure on trading partners to quickly make new deals before a Wednesday deadline, with plans for the United States to start sending letters Monday warning countries that higher tariffs could kick in Aug.

President Trump said he's secured a trade deal with Vietnam in what would be just the second agreement Trump has made with another country.

On July 2, President Donald Trump finalized a new trade agreement with Vietnam, which he had personally negotiated with General Secretary Nguyen Xuan Phuc. The deal has a tariff of 20%, which will be assessed on all goods imported from Vietnam, and a 40% charge on any goods that might be considered transshipped goods.